Troo Good

Overview

Troo Good is an Indian company specializing in millet-based snacks, known for offering nutritious and affordable products. Founded in 2018 by Raju Bhupati, Troo Good has raised significant capital, notably Rs 55 crore in its Series A funding round led by OAKS Asset Management. The company is headquartered in Hyderabad, India, and has rapidly expanded its market presence across various Indian states.

Recent Developments

Over the past couple of years, Troo Good has achieved notable milestones and launched several strategic initiatives. Key recent developments include:

Revenue Growth: Troo Good reported a revenue of Rs 53 crore in the fiscal year 2022-23, with projections to reach Rs 100 crore by the end of the current fiscal year.
Expansion: The company's products are now available in around 30,000 retail outlets and 20,000-25,000 schools. Troo Good plans to establish two additional manufacturing units in Chhattisgarh and either Haryana or Karnataka.
Funding: Troo Good raised Rs 72 crore in a new funding round from Oaks Asset Management and other investors in October 2024, valuing the company at Rs 322 crore ($38 million).
Partnerships: The company became the nutrition partner for Vedanta's initiative to eradicate malnutrition, providing Nutri Bars to 40,000 children daily.
Advertising: Recently, Troo Good appointed Wunderman Thompson as its advertising agency to enhance its brand presence.

Attribute	Information
Founding Date	2018
Headquarters	Hyderabad, India
Founders	Raju Bhupati
Revenue	Rs 53 crore (FY 2022-23)
Profits	Achieved profitability in FY 2022-23
Key Investors	OAKS Asset Management, Sashi Reddi Family Office
Industry	Millet-based snacks, FMCG
Number of Employees	68 (as of Jan 2024)

Early History

Troo Good was founded in 2018 by Raju Bhupati, an IT industry veteran with a passion for nutrition and food businesses. Initially, the company started by producing millet-based chapatis and parathas for schools and IT companies. By the end of 2018, Troo Good had introduced its flagship product, the millet-based chikki, which became a significant hit in the market for its affordability and nutritional value.

Company Profile and Achievements

Troo Good operates on a business model centered around providing affordable, nutritious snacks primarily made from millets. Major achievements include:

Product Range: Troo Good's product offerings include millet chikkis, protein bars, and nutri bars, with prices ranging from Rs 5 to Rs 10, making them accessible to a broad consumer base.
Distribution: The company has established a strong distribution network across Andhra Pradesh, Telangana, Karnataka, Odisha, and Chhattisgarh, with plans to expand pan-India.
Awards: Troo Good was recognized as the Best Start-up Connected with Public Funds at the Poshak Anaj awards in 2021 and 2023 by IIMR, Niti Aayog, and the Department of Agriculture.
Social Impact: The company emphasized local sourcing and employment, contributing to the local economy while keeping prices affordable.

Current Operations and Market Position

Troo Good continues to focus on its core business of providing millet-based snacks. The company has a market share in the millet chikki segment, competing with other brands like Slurrp Farm. Its competitive advantages include economies of scale, a strong focus on R&D, and strategic pricing. Recent strategic initiatives such as capacity expansion and appointing Wunderman Thompson for advertising are expected to strengthen its market position further.

Conclusion

Troo Good stands out in the millet snack industry for its commitment to affordable nutrition and sustainable growth. With robust financial backing, strategic partnerships, and a clear vision, the company is poised for continued expansion and innovation in the Indian FMCG sector.